Novadip Biosciences, a life sciences spinout of Université Catholique de Louvain (UCL), has raised $31.76m.
The Belgium-based company’s round was led by New Science Ventures, and included VIVES Louvain Technology Fund, NivelInvest (Start-Up), Fund+, Integrale, SRIW, SFPI-FPIM, Epimède, and unnamed individual backers.
Novadip is commercialising UCL technology derived from adipose stem cells which can be used to regenerate bone and soft tissues. The cash from the round will be used to push Novadip’s lead compound, Creost, through clinical development.
Jean-François Pollet, CEO and co-founder of Novadip Biosciences, said: “We are honoured to attract such high quality investors who share our vision. The proceeds will be used to advance clinical development of Creost and realize its full potential as a first-in-class medicinal product with broad applicability in bone reconstruction. We also have the capacity to work collaboratively with partners on other targets and indications in hard and soft-tissue reconstruction where the potential of our technology has strong clinical, economic and societal value.”
